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Updated: 4 years 26 weeks ago
Oil falls as coronavirus cases pick up in China, U.S.
Oil prices fell on Wednesday as investors worried about fuel demand due to fresh outbreaks of COVID-19, though prices drew some support after U.S. stocks of diesel fuel fell for the first time in weeks and U.S. oil production dropped sharply.
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U.S. SEC has problems with car rental firm Hertz selling new shares: CNBC
The U.S. Securities and Exchange Commission (SEC) has told bankrupt Hertz Global Holdings Inc it has issues with the car rental firm's plan to sell new shares, the agency's Chairman Jay Clayton told CNBC television on Wednesday.
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U.S. Justice Department to propose rolling back protections for big tech
The U.S. Justice Department will propose legislation as soon as Wednesday to try to remove protections that big tech platforms like Alphabet's Google and Facebook have had for decades, a department official said on Wednesday, speaking on condition of anonymity.
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Dollar rises as investors take refuge ahead of Fed
The U.S. dollar rose from early lows on Wednesday as investors wary of wider geopolitical risks sought its relative safe haven ahead of midday remarks by Federal Reserve Chair Jerome Powell.
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S&P 500, Dow flat after three-day rally
The S&P 500 and the Dow were largely flat on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn.
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FAA 'stonewalling' Boeing 737 MAX probe after fatal crashes -senator
The U.S. Federal Aviation Administration has been "stonewalling" senators conducting an investigation into the design and development of Boeing Co's 737 MAX in the wake of deadly crashes, a top Republican senator told a hearing on Wednesday.
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Trump administration vows to push for 'broad reset' at WTO
The Trump administration will push for a broad reset of "outdated tariff determinations" at the World Trade Organization to right what it sees as years of unfair treatment of the United States, a top trade official will tell lawmakers on Wednesday.
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United Airlines sweetens exit deal for flight attendants, others
United Airlines sweetened on Tuesday a voluntary exit package for frontline employees like flight attendants and gate agents, saying it needed "a lot more people to sign up" to avoid involuntary layoffs in October, according to a staff email seen by Reuters.
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S&P 500, Dow struggle for direction after three-day rally
The S&P 500 and the Dow edged lower in choppy trading on Wednesday as a record rise in coronavirus cases in six U.S. states dented sentiment following a three-day rally on hopes of a swift recovery from a coronavirus-driven downturn.
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EU worried Fiat-PSA deal may hit competition in vans
Fiat Chrysler and Peugeot maker PSA's proposed merger may harm competition in small vans in 14 EU countries and Britain, EU antitrust regulators said on Wednesday as they opened a four-month investigation into the deal.
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Southwest Airlines says has enough cash for two years as demand improves
Southwest Airlines said on Wednesday it has enough cash to carry on business for the next two years, up from its prior forecast of 20 months, as travel demand gradually picks up.
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FCA moves closer to state guarantee for $7.1 billion loan: source
Italy's Treasury has taken a further step towards approving a state guarantee for a 6.3 billion euro ($7.1 billion) loan for Fiat Chrysler's Italian unit, a government source told Reuters on Wednesday.
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U.S. housing starts miss expectations; permits rebound strongly
U.S. homebuilding increased less than expected in May, but a strong rebound in permits for future home construction suggested the housing market was starting to emerge from the COVID-19 crisis along with the broader economy.
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Qualcomm aims to woo robotics developers with new chips, tools
Building robots and drones is messy: Developers must pull together sensors to be the eyes and ears, chips for the brains and motors to make the device move, tying them all together with several kinds of software.
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Exclusive: Who's in charge at Nissan? COO's allies push to give him shared CEO role – sources
Nissan's chief operating officer Ashwani Gupta helped engineer the troubled automaker's latest turnaround plan. Now his allies are pressing the board to promote him to co-CEO to drive the new strategy, said four people with direct knowledge.
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Oil falls on fears of more COVID-19 cases
Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.
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Mars Inc says evaluating changing Uncle Ben's brand image
Mars Inc is "evaluating all possibilities" regarding changes to its Uncle Ben's rice brand image, the food company told Reuters on Wednesday, following news that PepsiCo Inc was dropping its Aunt Jemima brand.
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Wall Street opens higher on hopes of swift economic recovery
Wall Street's main indexes opened higher on Wednesday, rising for a fourth straight session, as signs of more stimulus bolstered hopes of a quick economic rebound, even as six U.S. states saw a record rise in new coronavirus cases.
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Google releases new ad features to help small businesses
Alphabet Inc's Google on Wednesday introduced new advertising features intended to help local businesses get more customers and recover from the coronavirus pandemic.
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Acknowledging 'racial stereotype,' PepsiCo to drop Aunt Jemima name, brand
PepsiCo Inc will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot criticized for a racist history.
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